Prologis Acquires 2.5 Million SF in Europe

SAN FRANCISCO—Prologis Inc. has acquired a portfolio of approximately 2.5 million square feet (230,000 square meters) in the Czech Republic, Poland and Slovakia.

The portfolio encompasses 23 class-A distribution centers, including:

    --  17 properties totaling 1.75 million square feet (163,000 square meters)
        in Prague. Prologis Park Prague-Rudna is located on the D5 highway, with
        direct connection to Germany and proximity to Prague International
        Airport.

    --  Four properties totaling 596,000 square feet (55,400 square meters) in
        Warsaw. Prologis Park Warsaw-Zeran is located near the Warsaw city
        center east of the A2 highway, a key regional transport route.

    --  Two properties totaling 124,900 square feet (11,600 square meters) in
        Bratislava. These facilities are adjacent to Prologis Park Bratislava
        and include 19.3 acres of land with a build-out potential of 413,000
        square feet (38,400 square meters) of logistics space.

"We are pleased to acquire such well-located logistics facilities at a discount to replacement costs," said Philip Dunne, president, Prologis Europe. "These high-quality assets complement our existing portfolio. The Prague assets, in particular, are in a long-established park that will benefit from an increase in labor availability in the years to come."

Prologis owns and manages approximately 154 million square feet (14.3 million square meters) of logistics and distribution space in Europe as of June 30, 2014.